Guideline Value

Corporate

Guideline Value for A.K.R.Nagar Main Street

₹3850/sq.ft.

The guideline value for A.k.r.nagar Main Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on A.k.r.nagar Main Street

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A.K.R.Nagar Main Street guideline value

The current guideline value of A.K.R.Nagar Main Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of A.K.R.Nagar Main Street has changed

The guideline value for A.K.R.Nagar Main Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a significant drop of 33%, bringing the value down to Rs 2,345 per sq.ft. The next revision in 2023 increased the value to Rs 3,500 per sq.ft, and the latest 2024 revision further increased it to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions are as follows: from 2017 to 2023, there was a 49% increase, while the change from 2012 to 2017 was a decrease of 33%. The register does not have figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is the same as the current guideline value for A.K.R.Nagar Main Street.

Stamp duty and registration fee for property in A.K.R.Nagar Main Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration fee would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers A.K.R.Nagar Main Street?

The Sub Registrar Office that covers A.K.R.Nagar Main Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Valasaravakkam

The guideline value is an essential factor when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. The buyer and seller must consider this value during negotiations to ensure compliance with legal requirements.

At the time of registration, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, as these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of A.K.R.Nagar Main Street?

The current guideline value of A.K.R.Nagar Main Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What are the stamp duty and registration fees for property in A.K.R.Nagar Main Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers A.K.R.Nagar Main Street?

The Virugambakkam Sub Registrar Office covers A.K.R.Nagar Main Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for A.K.R.Nagar Main Street?

A.K.R.Nagar Main Street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.